Entrepreneurs in Moldova will be able to obtain financing, consulting, and other forms of support for business development more easily, through a unique mechanism managed by the Organization for Entrepreneurship Development. The government has approved a regulation that requires entrepreneurs to submit a single business plan for all types of support, replacing the separate application procedure for each program, reports IPN.
The authorities assert that this change will save time for entrepreneurs and simplify access to support resources, which will stimulate the launch and development of businesses, increase competitiveness and innovation in the small and medium-sized enterprise sector.
ODA now implements 10 programs that support various categories of entrepreneurs – from young people and women in business to initiatives for greening enterprises and using remittances in the economy.
In the last four years, the institution has supported 2,270 projects with grants amounting to 917 million lei, generating investments of over 2.1 billion lei and thousands of jobs. Additionally, over 2,000 credit guarantees were provided for projects totaling 6.6 billion lei.
In total, the investments mobilized in the economy with the support of ODA exceed 14 billion lei. According to the Growth Plan for Moldova, funded by the European Union, about 25 thousand businesses are to be supported, including small enterprises.
